I believe that social signals are still an important as part of a balanced overall SEO campaign because it would not look natural to Google if you had a lot of links coming into your website but nobody was viewing, liking or sharing it.
As I have said time and time again to those who believe that link building is dead is that Google’s method of ranking websites in the search results is primarily by the use a link based algorithm.
Now this of course does not mean that the idea of ranking a website is to go out and get as many links as possible in order to be able to rank your website. When it comes to getting links to your website, especially if you are a local business, less can often be more. It would not look natural to Google if you were a plumber in a local area and had 100,000 links from non related websites all over the world.